ABUJA, Nigeria – The Network Against Corruption and Trafficking Foundation, NACAT, a Nigerian pro-democracy civil society organisation, has filed a lawsuit against Folashodun Shonubi, the Acting Governor of the Central Bank of Nigeria, CBN, and Edward Adamu, a Deputy Governor of the CBN.
The suit alleges that both officials failed to declare their assets to the Code of Conduct Bureau, CCB, in violation of the law.
The Chairman of the Code of Conduct Bureau is also named as a defendant in the case filed by Festus Keyamo Chambers, the group’s legal counsel.
The suit leverages the Freedom of Information (FOI) Act of 2011 and demands transparency from the CBN officials regarding their undeclared financial interests in various companies.
According to Stanley Ugagbe, the operational manager of NACAT, the group is specifically asking the court for documents showing that Shonubi deliberately refrained from declaring interests in several companies, including Intameks Ltd, Kirby’s Place Resources Ltd, and The Pekaboo Company Ltd, among others.
“Public officers have statutory obligations to declare their assets, including Mr. Shonubi and Mr. Adamu,” Ugagbe stated on Monday, August 28, 2023.
“The Applicant has a right under the Freedom of Information Act, 2011, to access the Assets and Liabilities Declaration Forms of these officials, yet they have vehemently refused to provide them.”
Adamu is also accused of failing to declare his financial interests in companies such as Pinnacle Solutions Network Ltd and Elad Global Resources Limited.
“That the Applicant has made a demand under the Freedom of Information Act, 2011 to the Respondents, but they have failed, refused and neglected to produce the said documents,” Ugagbe argued.
The case emerges at a critical juncture for Nigeria, which is already grappling with corruption and economic instability issues.
“The Respondents have failed, refused and neglected to produce the said documents requested from them, contrary to section 4 (a) of the Freedom of Information Act, 2011,” the counsel stated, emphasizing the need for judicial intervention.
The legal move by NACAT comes after multiple attempts to secure these documents, including letters dated July 3, 2023, and August 14, 2023, which the respondents ignored.
NACAT, which aims to contribute to the global war against corruption, financial crimes, terrorism, and economic sabotage, demands the court’s intervention to compel the CBN officials to abide by the law.
While the Central Bank of Nigeria has yet to comment on the case, it raises questions about transparency and accountability among public officials in a country looking to strengthen its governance and international reputation.
